LMG Wealth Partners LLC Takes $235,000 Position in Simon Property Group, Inc. (NYSE:SPG)

LMG Wealth Partners LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,366 shares of the real estate investment trust’s stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the 3rd quarter valued at $30,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group during the fourth quarter valued at $41,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group during the fourth quarter valued at $41,000. Eastern Bank purchased a new position in Simon Property Group in the third quarter valued at about $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Simon Property Group during the 4th quarter worth about $45,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 0.1 %

Shares of Simon Property Group stock opened at $185.88 on Thursday. The company has a market cap of $60.65 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 10.06 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.13. The company’s fifty day simple moving average is $176.10 and its 200-day simple moving average is $172.25. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.52%. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Analyst Upgrades and Downgrades

SPG has been the subject of several recent research reports. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $175.10.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.